Cue the lights… Cue the music… Cue Howie Mandel and his entourage of 26 gorgeous models, each holding a briefcase containing a dollar amount ﹘ ranging from $0.01 to $1,000,000. If you haven’t seen it, NBC’s Deal or No Deal? was a game show where contestants had a chance to win big on nothing but luck. Players eliminate briefcases, at which point the value of that case would be revealed. Periodically, contestants would be presented with a "deal" from The Banker to take a cash amount and quit the game. If lower amounts are removed, the offers would increase; likewise if higher amounts are removed, the offers would decrease.
This could be a fun game when backed by the billion dollar empire of NBC, but imagine it was your own, hard earned money you were risking up there. Not as much fun anymore, is it? I mean, who would chance a million dollars if there was a possibility they’d be left holding a briefcase that was worth a penny? Surprisingly, too many people do. What’s even more surprising is that most of these people do it at the advice of a financial “expert.”
Believe me, I’ve heard the stories of people making it rich by playing the high risk, high reward investing game. But, I’ve probably heard even more stories about lucky overnight millionaires, thanks to the lottery. Both of these “investments” are a gamble, but truth be told, your losses are probably going to be less playing the lottery!
As a society, we have replaced the American Dream of working hard and investing wisely with the Hollywood Dream of overnight success. Knowing this, I shouldn’t be as shocked as I am that so many people get swept away by the Get-Rich-Quick gamble. I have met with many men and women that have either already learned this lesson the hard way, or their current high risk investments have them in a state of emotional turmoil. It breaks my heart to see this ﹘ because this is not who we were created to be! In Jeremiah 29:11, the Lord tells us, For I know the plans I have for you, plans to prosper you and not to harm you, plans to give you hope and future.
But, we were also warned; In Proverbs 28:19-20 we are given this very telling advice, Those who work their land will have abundant food, but those who chase fantasies will have their fill of poverty. A faithful person will be richly blessed, but one eager to get rich will not go unpunished.
I’ve spent many years training my clients to avoid the “bigger-better-deal” mentality, and replace it with a more holistic approach that will securely grow their money. Financial peace is absolutely attainable through a factual, data-driven understanding of how money works. Specifically, one has to know the difference between an “investment” and “safe” money. This understanding ultimately leads them to their very own AHA! moment, that epiphany – that allows them to have “more”. My goal for my clients is to enable them to have so much more than they understood was possible not just for themselves but for others they may choose to bless.
If you’re feeling lucky and have an urge to make a wager, go get yourself a lottery ticket. But when it comes to Get-Rich-Quick investments and YOUR money, saying No Deal will always make you come out the winner of an abundant and peaceful life.
To your success,
Does your financial plan maximize what you have today without undermining your tomorrow? Are you willing to learn about processes and systems rather than products and quick fixes? I am here to help guide and instruct you, no matter what level you’re at.